If you are preparing for an accounting aptitude test or even a job interview, these accounting questions and answers will help you master the principles of accounting. This test covers accounting past questions from WAEC, JAMB, Post UTME exams and many more.
The balance sheet is a statement showing
All assets and liabilities
All balances
Credit entries of the business
Debit entries of the business
Capital and liabilities
Correct answer is A
No explanation has been provided for this answer.
An attempt to balance the accounts
The credit balances of the accounts
List of all balances extracted from the ledger
The debit balances of the accounts
Balance sheet balances
Correct answer is C
No explanation has been provided for this answer.
Debentures issued at a price above the nominal value are said to be issued
At discount
At premium
At subsidy
On goodwill
At a loss
Correct answer is B
No explanation has been provided for this answer.
Reduced by N15,750
Increased by N15,750
Reduced by N12,000
Increased by N2,250
Reduced by N2,250
Correct answer is C
No explanation has been provided for this answer.
N48,000
N36,000
N38,000
N24,000
N12,000
Correct answer is D
No explanation has been provided for this answer.